Inari Medical (NASDAQ:NARI) Stock Price Down 4.6% on Insider Selling

Inari Medical, Inc. (NASDAQ:NARI) was down 4.6% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $48.62 and last traded at $48.62. Approximately 136,045 shares traded hands during trading, a decline of 86% from the average daily volume of 983,498 shares. The stock had previously closed at $50.97.

Specifically, Director William Hoffman sold 60,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $51.16, for a total value of $3,069,600.00. Following the sale, the director now directly owns 501,233 shares of the company’s stock, valued at approximately $25,643,080.28. The trade was a 10.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NARI. Needham & Company LLC reiterated a “hold” rating on shares of Inari Medical in a research note on Tuesday, October 29th. Stifel Nicolaus initiated coverage on shares of Inari Medical in a report on Tuesday, September 17th. They set a “hold” rating and a $50.00 price target on the stock. Piper Sandler boosted their price objective on shares of Inari Medical from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 29th. Robert W. Baird increased their target price on Inari Medical from $66.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Finally, Leerink Partnrs upgraded Inari Medical to a “hold” rating in a research note on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $58.89.

Inari Medical Stock Up 1.6 %

The company has a fifty day moving average of $45.52 and a 200 day moving average of $47.19. The company has a market cap of $2.92 billion, a P/E ratio of -36.89 and a beta of 0.96.

Institutional Investors Weigh In On Inari Medical

A number of large investors have recently made changes to their positions in NARI. Vanguard Group Inc. boosted its holdings in shares of Inari Medical by 11.1% in the first quarter. Vanguard Group Inc. now owns 5,599,854 shares of the company’s stock worth $268,681,000 after buying an additional 561,562 shares during the last quarter. Covestor Ltd increased its stake in shares of Inari Medical by 30.2% in the 1st quarter. Covestor Ltd now owns 1,619 shares of the company’s stock worth $78,000 after purchasing an additional 376 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Inari Medical by 16.4% in the 1st quarter. Bessemer Group Inc. now owns 2,439 shares of the company’s stock worth $117,000 after purchasing an additional 344 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Inari Medical by 85.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 53,287 shares of the company’s stock valued at $2,550,000 after purchasing an additional 24,562 shares in the last quarter. Finally, Brown Capital Management LLC grew its holdings in Inari Medical by 4.2% during the first quarter. Brown Capital Management LLC now owns 522,422 shares of the company’s stock valued at $25,066,000 after purchasing an additional 21,087 shares during the period. 90.98% of the stock is currently owned by institutional investors.

Inari Medical Company Profile

Inari Medical, Inc builds minimally invasive, novel, and catheter-based mechanical thrombectomy devices and accessories for the specific disease states in the United States. The company provides ClotTriever system, which is designed to core, capture, and remove large clots from large vessels for treatment of deep vein thrombosis and peripheral thrombus; FlowTriever system, a large bore catheter-based aspiration and mechanical thrombectomy system to remove large clots from large vessels in the peripheral vasculature for treating pulmonary embolism and other complex venous thromboembolism cases; InThrill system to treat small vessel thrombosis; and LimFlow system for patients who have chronic limb-threatening ischemia with no suitable endovascular or surgical revascularization options and risk of major amputation.